The new SPAC intends to combine with prospective targets focused on the clean transition economy with enterprise values of approximately $250 million to $1 billion. Monterey Capital is led by CEO and Chairman of the Board Bala Padmakumar, EVP Vivek Soni, and CFO Daniel Davis.
Total SPAC deal count for 2022 year-to-date is now 66. This offering is expected to close on Friday, May 13.
EF Hutton, a division of Benchmark Investments LLC, is acting as the sole book-running manager of the offering. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. is serving as Issuer’s Counsel with Seward & Kissel LLP serving as Underwriter’s Counsel. Marcum, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.